ONEOK, Inc. (NYSE:OKE) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 68.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,761 shares of the utilities provider’s stock after selling 61,515 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ONEOK were worth $2,226,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. CWM LLC grew its position in shares of ONEOK by 1.8% in the first quarter. CWM LLC now owns 37,603 shares of the utilities provider’s stock valued at $3,015,000 after purchasing an additional 676 shares during the last quarter. Strategic Advocates LLC acquired a new stake in ONEOK during the first quarter worth approximately $330,000. General Partner Inc. acquired a new stake in ONEOK during the first quarter worth approximately $80,000. BancFirst Trust & Investment Management boosted its position in ONEOK by 8.7% during the first quarter. BancFirst Trust & Investment Management now owns 19,698 shares of the utilities provider’s stock worth $1,579,000 after acquiring an additional 1,584 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in ONEOK during the fourth quarter worth approximately $103,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of analyst reports. Mizuho raised their target price on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Barclays raised their target price on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. US Capital Advisors downgraded shares of ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $84.25.

ONEOK Stock Performance

Shares of OKE stock opened at $79.88 on Friday. The company’s fifty day simple moving average is $79.86 and its 200-day simple moving average is $75.30. ONEOK, Inc. has a 52 week low of $57.37 and a 52 week high of $83.31. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The company has a market cap of $46.62 billion, a PE ratio of 18.58, a P/E/G ratio of 4.35 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period last year, the business earned $2.34 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 4.94 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.96%. The ex-dividend date was Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 92.09%.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.